COMPANY NEWS: Grant Prideco to acquire Reed-Hycalog from Schlumberger

Grant Prideco Inc., Houston, has signed a definitive agreement to acquire Schlumberger Ltd.'s Houston-based drillbit maker Reed-Hycalog for $255 million in cash, 9.7 million shares of Grant Prideco common stock (valued at $90 million), and the assumption of about $5 million in debt.The transaction is expected to close by yearend, pending certain regulatory approvals, Grant Prideco said.In another recent company acquisition, Denver independent Patina Oil & Gas Corp. said it will acquire privately held Oklahoma City-based oil company Le Norman Energy Corp. in a $68 million deal. The acquisition will boost Patina's oil production by about 25% and its total production by more than 10%...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected